How Crypto could bring tax evasion to the masses

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Loopholes in lending laws are allowing cryptocurrency users to escape taxes — and the government can’t keep up

WWealthy families and merchants first conjured up the idea of offshore banking in 19th century Europe, seeking a place to store funds away from tax-hungry governments in the aftermath of the Napoleonic wars. Since then, it’s been a race to the bottom. Over the course of the last two centuries, deregulation and lenient financial laws have allowed the rich to tread the fine line between legal tax avoidance and illegal tax evasion.

But blockchain, which first emerged as a concept in 2008, is now offering ordinary people the same possibilities. Using cryptocurrency, anyone with a little technical know-how can open what is effectively the equivalent of an offshore bank account — albeit offshore in cyberspace.

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Blockchains’s impact on food and farming, explained

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1. Is it possible to track where food comes from?

Several companies have launched services allowing shoppers to see a product’s journey from farm to fork, but they often depend on retailers agreeing to be transparent.

When you pop into a store to buy fresh fruit, vegetables or meat, it’s common for the packaging to reveal which country it is from. Some upmarket brands go further by offering stories about the farm and the conditions where the food was cultivated.

Tracking an item step-by-step through the manufacturing process can be hard — and, sometimes, even manufacturers and retailers themselves aren’t sure about a product’s journey.

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New ECB boss Christine Lagarde issued a serious bitcoin warning

 

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Bitcoin and other crypto-assets have long divided traditional economists and bankers with some warning over their instability and others praising their ingenuity.

The bitcoin price rebound so far this year has caused some to change sides, though many continue to warn bitcoin and other cryptocurrencies will be a mere flash in the pan.

Earlier this year, Christine Lagarde, who has just been nominated to replace Mario Draghi as president of the European Central Bank (ECB), warned that cryptocurrencies are “shaking the system”—something that could signal a change in the ECB’s approach to bitcoin and crypto and potentially spur adoption.

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3 powerful ways crypto is completely going to transform our lives

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You won’t believe it till you transact it

Its time to cut the crap. Humanity is on its way to decentralization. The choice is yours to become antiquity in the museum of fiat corruption, or a fast crypto Lamborghini fueled by blockchain on its way to peer to peer financial empowerment.

Lets no longer deny the future of money. It will be digital, it will be apps, it will be borderless and neutral. And it will be humanities biggest escape from the capitalist abyss of pyramidal driven greed destruction. Nakamoto will be proven to be the 21 century Houdini showing the escape route from the financial chains of banks and middlemen slavery. He introduced the technological way that will eventually free most of humanity from the parasitical power of cartels. And if you don’t grasp it yet fully, its OK.

Buckle up for these 3 biggest transformational changes crypto, bitcoin and cryptocurrencies will bring us on the long run.

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Why Blockchain is Hard

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The hype around blockchain is massive. To hear the blockchain hype train tell it, blockchain will now:

  1. Solve income inequality
  2. Make all data secure forever
  3. Make everything much more efficient and trustless
  4. Save dying babies

What the heck is a blockchain, anyway? And can it really do all these things? Can blockchain bring something amazing to industries as diverse as health care, finance, supply chain management and music rights?

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Bitcoin regulation : South Korea is making progress

 

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On June 8th, the South Korean Advisory Committee met to develop a legal framework for national crypto exchanges. Following the Coinrail Market’s recent hack, the South Korean government is enforcing stricter investor protection guidelines: Know Your Customer (KYC) and Anti-Money Laundering (AML).

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Giving citizenship to bots

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The crypto friendly island of Malta wants to give civil liberties to bots and other forms of artificial intelligence. Some experts say this is a profoundly bad idea.

Six years ago, when Amazon started talking about using delivery drones, many people thought they must be joking. Far from it—drones are now very much a reality: in April, Google offshoot, Wing Aviation, won certification from the US Federal Aviation Administration to begin commercial drone deliveries. If you live in Blacksburg, Virginia, drones could be landing on your porch by the end of the year.

In a similar vein, it’s tempting to scoff at Malta’s plans, announced in November, to give citizenship to bots. Voting rights, healthcare, civil liberties—everything is on the table. In fact, states such as the UAE and Saudi Arabia have already granted robots citizens rights.

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Fiat vs Cryptocurrency: Pros and Cons

 

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While some early adapters may not need convincing to join the cryptocurrency craze, others are left wondering, what exactly is it good for? I can’t put it in my bank, I can’t use it at (most) stores, what can I do with cryptocurrencies? Before we get into the ins and outs of cryptocurrency and how it can be used, first let’s look at some of the similarities and differences between fiat and cryptocurrency.

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What will Bitcoin look like in twenty years?

 

9D216F8F-688F-4677-8FC9-6334156D17CCPrediction is a tricky business.

It’s so easy to be wrong and so hard to be right.

But that’s exactly what we’ll do here. Since we’re rapidly approaching the ten year anniversary of Bitcoin’s whitepaper publication, I’ll attempt to project out twenty years to see the evolution of Bitcoin, blockchain, alternative cryptocurrencies and decentralization.

This is the type of article that will look unbelievably foolish or incredibly brilliant when I’m old and gray.

I don’t care. I’m going for it anyway.

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The next FinTech: Global “Open Finance” Infrastructure

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“Open Finance “ — open-source financial services infrastructure built on public blockchains — may be the next major digitization narrative after Fintech. Driven by the transformation of analog liquidity (deposits in a bank account) to digital liquidity (tokens in digital wallets), the playing field can be leveled for offering financial services. As a result, new profit motives are introduced encouraging innovations not previously feasible.

Technology disrupting finance is a narrative that’s existed for a long time. The dream has always been for tech to digitize financial services, increase competition/access, reduce concentration risks, and improve customer experience. Many sales-pitches have tried to achieve this: from FinTechs, TechFins, API / Open Banking, to Permissioned Blockchains.

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Blockchain: Separating fact from fiction

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Blockchain is not a single technology. After having been conceived by Bitcoin creator — Satoshi Nakamoto, the world discovered the first known representation of this abstract concept through Bitcoin. Since then, hundreds of implementations have been explored. These are also called Distributed Ledger Technologies.

With hindsight, the blockchain concept is quite simple: it proposes an innovative information system architecture to process value exchange within open ecosystems. On the traditional web, information can be corrupted. Blockchain aims at securing high-sensitive data exchanges to preserve them from wrongdoing.

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Crypto lending on the rise: Credit volume of Genesis Capitol at over $1 Billion

 

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Genesis Capital, one of the largest providers of crypto loans, cracked $1 billion in crypto loans in 2018. Despite falling bitcoin prices, the demand for credit in the crypto money market seems higher than ever.

In the fourth quarter of 2018 alone, Genesis, a type of crypto bank, will provide $500 million in loans. As a result, the US company accounts for almost half of its total lending volume in the fourth quarter of 2018; In total $1.1 billion in loans. The market is booming — and after the already south-facing market lost further value in November and December. This emerges from the quarterly report of the company.

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